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Comment Re: It was insane from the start (Score 1) 55

And the difference between Dollars and worthless fiat is meaningless until a flaw is found in our monetary policy. If you aren't trading in precious metal coins, you aren't using Dollars. If you own Federal Reserve Banknotes, you don't own Dollars. It's a derivative. Even worse, you may be using "credit". It's layers upon layers out there!

Quite tongue-in-cheek, but I think you are helping me understand the place of the Lightning Network.

Comment Re:China could reverse ransomware payments ... (Score 1) 181

however the bitcoin security model was supposed to make this sort of thing impossible not unlikely. Merely unlikely means the security model is broken.

From what I understand, the bitcoin security model really hasn't changed- a 51% attack has always been possible. The only thing that's changed is that now bitcoin is valuable enough that organizations with lots of real-world power (ie, governments and corporations) are now taking notice of it. Bitcoin's main defense is that if a 51% attack were to be attempted, it would (probably) be detected very quickly and its value would evaporate, disincentivizing the attack.

Back when I first was learning about Bitcoin the fact that it depends on this social and political defense, and a very expensive consensus mechanism that had these flaws in it made me very uneasy and wary. It seemed too messy to be a solution to real-world problems. I constantly kick myself for not dumping $100 into it anyway

Comment Re:The physics don't work for me (Score 1) 713

For example, EVs could start using transmissions, which would greatly extend range without larger batteries or motors.

Do you have a source explaining this? I thought that EVs generally did not have transmissions because their electric motors are very efficient through the entire range of RPMs.

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